Real estate inheritance and inheritance tax in Turkey

Created: 2021-05-20
Last Updated: 2024-05-06
Views: 4505

Content Index

First: The inheritance regulation mechanism in Turkey:
Second: Who are the inheritors of real estate in Turkey?
Third: What are the documents necessary to transfer ownership of the property to the heirs?
Fourth: What about inheritance tax in Turkey?
Fifth: A will in Turkey:
Sixth: Is it possible to prevent one of the heirs from inheriting:

A large number of foreign investors have bought real estate in Turkey and carried out many investment projects, and this is of course due to the many advantages that Turkey has provided them, which made them feel that it is their second country thanks to the facilities and legislation issued to facilitate the process of real estate ownership, and one of the most important of these laws is the inheritance law. Real estate, what does it stipulate and how is the property of foreigners without Turkish citizenship bequeathed? This is what we will learn about in the next article.

First: The inheritance regulation mechanism in Turkey:

The process of real estate and property inheritance is affected by many factors, and perhaps the most important of them is the location of the property, as real estate that is located within the borders of the Turkish Republic will be subject to all its laws in the event that they are immovable. Real estate in Turkey is the property to which the real estate belongs, as the transferred real estate will be subject to the laws of the country of origin of the deceased and whose nationality the deceased has, while the immovable property is subject to the inheritance laws of Turkey.

Second: Who are the inheritors of real estate in Turkey?

In the event that there is an official will that has been certified, the inheritance is applied according to what is stipulated in this will, but in the event that it does not exist, the Turkish law inherits the property and property in the following order:
The first people to inherit from the deceased are his children and his wife, according to strictly defined quotas.
- In some cases where the deceased does not have any children, the main heirs are the father and the mother.
- When the father and mother are deceased, the inheritance becomes the right of the grandfather and grandmother in addition to the wife and siblings of the deceased.
- According to the sequence specified by Turkish law, the former descendants of the deceased and their children come after the former.
- In cases where the deceased does not have any relatives, the wife is the one who inherits all his property.
- In cases where the deceased has no heirs, all his property becomes the right of the Turkish government.

It should be noted that the process of dividing the inheritance takes place after verifying the clearance of the deceased and that all loans, debts and installments are paid.
The inheritance is divided between the wife and the children equally, as the wife gets half of the property, and the same applies to the children, and the male and female children are treated in the same way, and many people may wish to apply the laws prevailing in the country of origin of the deceased and this is possible after obtaining the consent All heirs.

Third: What are the documents necessary to transfer ownership of the property to the heirs?

1 - A family statement in which the degree of kinship of the deceased is clarified, and it must be certified and translated into Turkish.
2 - Extracting the tax number for all heirs from the tax registry in Turkey.
3- A valid passport.
4- Recent personal photos.

Fourth: What about inheritance tax in Turkey?

In the event that the inherited and movable property is located within the borders of the Turkish Republic, the foreign heirs will be subject to inheritance tax, whether these heirs are residing in Turkey or abroad.
When comparing the inheritance tax between Turkey and neighboring countries in Europe, we will find that its value is considered low, and it certainly differs according to the value of the inherited real estate or property, as a percentage of the property price is deducted as the inheritance tax value.
The value of this tax ranges from 1% to 10%, depending on the location of the property in Turkey and the place of residence of the heir.
Turkish law differentiates between two cases, the first is the transfer of real estate through inheritance, and the second is the transfer of real estate without compensation through a gift or gift, and the tax rate varies according to the financial value of the property or property as follows:
When the property value is 41,896 thousand euros or less, the transfer tax by inheritance is 1%, and the free transfer tax is 10%.
And when the property value is 99,228 thousand euros, the inheritance tax is 3% and the transfer tax without charge is 15%.
And if the property value is 209,481 thousand euros, the inheritance tax is 5% and the transfer tax without a charge of 20%.
And if the property value is 396,912 thousand euros, the inheritance tax is 7% and the transfer tax free of charge is 25%.

The inheritance tax is paid within a maximum period of 3 years, during the months of May and November of each year.

Fifth: A will in Turkey:

In order for the will written by the foreign investor to be recognized in Turkey, it must be in accordance with the Turkish laws, which stipulate the need to write the date in detail in the will and for the person to write it in his own handwriting and to sign at the end of it with his signature, and he must be more than 15 years old and To have his mental powers and to ratify this will with a notary or court with the presence of two witnesses.
After that, the will is considered by those involved in the matter.

Sixth: Is it possible to prevent one of the heirs from inheriting:

Yes, it is possible, but the person concerned must explain the reason that drives him to deny one of the heirs from his right to inherit before the court, and after that this heir is not entitled to inherit anything from the property.

#apartments #istanbul #turkish_citizinship

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